Sec. 5. The interest of each proprietary company in the union company in its capital stock and in its property and effects of every kind shall be deemed an appurtenance to the railroad of such proprietary company, and shall not be transferable or alienable otherwise than with and as a part of the railroad of such proprietary company. The union company shall issue to each proprietary company a certificate or certificates setting forth the interest or stock of such proprietary company in such union company, but such certificate shall express upon its face that it is not transferable, except as appurtenant to the railroad of such proprietary company.
Formerly: Acts 1885, c.20, s.5.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 4. Organization and Operation of Railroads
Chapter 7. Incorporation of Union Railway Companies
8-4-7-1. Authority for Formation
8-4-7-2. Capitalization; Certificate of Incorporation
8-4-7-3. Certificate of Incorporation; Powers and Duties
8-4-7-4. Directors; Numbers; Acquisition of Property
8-4-7-5. Stock Certificates; Proprietary Companies
8-4-7-6. Belt Railroad; Operation
8-4-7-7. Acquisition of Property; Eminent Domain
8-4-7-8. Eminent Domain; Application of Law
8-4-7-9. Financing of Operation; Loans and Bond Issues
8-4-7-10. Vacation of Street or Alley
8-4-7-11. Joint Use of Facilities and Equipment
8-4-7-12. Directors, Officers, and Employees
8-4-7-13. Board of Managers; Associate Companies
8-4-7-14. Associate Companies; Board of Managers; Delegation of Powers and Duties
8-4-7-15. Contracts; Tort Liability
8-4-7-16. Acceptance of Provisions of Chapter; Certificate; Filing
8-4-7-18. Mechanic's Liens; Joint Liability of Proprietary Companies
8-4-7-19. Facilities and Connections; Joint Use by Proprietary Companies